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Increased Probability Of Cancellation Of Brexit

British Prime Minister Teresa May’s Brexit plan was severely criticized by allies and opponents on the 5th, after the British government was forced to announce legal advice that the UK may remain in the EU’s customs union indefinitely.


According to reports, after Teresa May suffered a series of defeats in the parliament, the US investment bank JPMorgan Chase said that the possibility of the UK's cancellation of Brexit increased.


In a report to clients, Morgan Chase analyst Malcolm Barr said, "The UK can now choose to unilaterally withdraw the notice." He believes that the probability of no agreement to leave the EU is 10%, the probability of orderly retreat is 50%, which is lower than the previous expectations of 20% and 60%, respectively, and the possibility of not returning to Europe is raised from 20% to 40%. .


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